Red Mountain Project - Alaska, USA
The Red Mountain Project represents a district-scale polymetallic opportunity with significant upside potential. The combination of high-grade mineralization, favorable jurisdiction and importantly State managed lands makes it an ideal candidate for development.
The Red Mountain Project is Silver47's flagship asset, strategically located in Alaska, 100 kilometers south of Fairbanks. This project offers a unique opportunity to explore and develop high-grade silver, copper, and gold resources in a premier mining jurisdiction.
Location
Red Mountain is situated on Alaska state-managed lands, free from Bureau of Land Management (BLM) or indigenous claims, covering approximately 620 square kilometers of highly prospective stratigraphy with highways, railway, and power within 30-80km.
Ownership
Silver47 wholly owns 942 mineral claims and one mining lease, providing extensive exploration opportunities over a 60km trend in a mining-friendly region near infrastructure.
- Alaska is host to several world class deposits and mines
Highlights
Inferred Mineral Resource Estimate
- Combined open-pit and underground Inferred Mineral Resource Estimate of 15.6 million tonnes at 335.7 g/t AgEq*, containing:168.6 million ounces of Silver Equivalent (AgEq*)
- Equivalent to 2 million ounces of Gold (AuEq*) at 4 g/t or 1 million tonnes of Zinc (ZnEq*) at 7%
Significant Exploration Potential
- Exploration target of 50-75 million tonnes at 300-400 g/t AgEq*, equivalent to 500-900 million ounces of AgEq*
- Over 5,000 permitted drill sites with multiple untested geochemical and geophysical anomalies, indicating a high potential for new discoveries
Strategic Location
- Located within 30-80 kilometers of highways, railways, and power, ensuring logistical efficiency and reduced development costs
- Located amongst numerous multi million ounces VMS and SEDEX deposits
- See Red Mountain NI-43-101 Mineral Resource Estimate, January 12, 2024
- Equivalencies are calculated using ratios with metal prices of US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu, US$1,850/oz Au, and US$23/oz Ag and recoveries of 90% Zn, 75% Pb, 70% Cu, 70% Ag, and 80% Au.
- ZnEq (%) = [Zn (%) x 1] + [Pb (%) x 0.6364] + [Cu (%) x 2.4889] + [Ag (ppm) x 0.0209] + [Au (ppm) x 1.9225]
- AgEq (g/t) = [Zn (%) x 47.81] + [Pb (%) x 30.43] + [Cu (%) x 119] + [Ag (g/t) x 1] + [Au (g/t) x 91.93]
NI 43-101 Mineral Resource Estimate
| Combined Open-Pit and Underground Mineral Resource Estimate | |||||||||||||||
| Mineral Resource Area |
Rock Mt |
Zn Eq kt | Zn Eq % | AgEq Moz |
AgEq g/t |
Zn kt | Zn % | Pb kt |
Pb % |
Cu kt |
Cu % |
Ag Moz |
Ag g/t |
Au Koz |
Au g/t |
| Dry Creek | 11.6 | 676 | 5.84 | 104.0 | 279.4 | 346 | 2.99 | 130 | 1.13 | 23 | 0.20 | 17.5 | 47 | 128 | 0.34 |
| West Tundra Flats | 4.0 | 420 | 10.39 | 64.6 | 496.9 | 186 | 4.60 | 86 | 2.13 | 3 | 0.08 | 18.4 | 141.2 | 86 | 0.66 |
| Global | 15.6 | 1,097 | 7.02 | 168.6 | 335.7 | 532 | 3.41 | 216 | 1.39 | 26 | 0.17 | 35.9 | 71.4 | 214 | 0.43 |
Exploration and Development Strategy
Silver47 is focused on exploration to expand the current resource base and uncover new high-grade zones. The strategy includes:
Rapid Resource Growth
Focused on the Dry Creek and West Tundra Flats (WTF) zones.
Targeting New Discoveries
Drilling to identify new silver-copper-gold mineralization.
Advancing Towards Development
Fast-tracking the project to a development milestone and potential mine build.
Historical Exploration
The project area has a rich history of mineral exploration, with the first sulphide outcrop discovered in 1975. Ongoing exploration efforts continue to reveal the potential for further resource expansion, particularly in the Dry Creek and WTF zones.
Drilling Highlights
Dry Creek Zone
- DC18-79: 6.0m @ 409 g/t Ag, 5.38 g/t Au, 1.21% Cu, 23.3% Zn+Pb (2,155 g/t AgEq)
- DC18-77: 5.0m @ 1,213 g/t Ag, 1.87 g/t Au, 0.4% Cu, 6.0% Zn+Pb (1,719 g/t AgEq)
West Tundra Flats (WTF) Zone
Multiple high-grade drill intercepts, including 7.3m @ 334.8 g/t Ag, 0.54 g/t Au, 0.07% Cu, 5.42% Pb+Zn (619 g/t AgEq)
- Equivalencies are calculated using ratios with metal prices of US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu, US$1,850/oz Au, and US$23/oz Ag and recoveries of 90% Zn, 75% Pb, 70% Cu, 70% Ag, and 80% Au.
- AgEq (g/t) = [Zn (%) x 47.81] + [Pb (%) x 30.43] + [Cu (%) x 119] + [Ag (g/t) x 1] + [Au (g/t) x 91.93]
GALLERY
DryCreek
Horseshoe Prospect
Other Prospects
